Mr. Gustavo Gutierrez reports

BLUEBERRIES MEDICAL ANNOUNCES C$2 MILLION NON-BROKERED PRIVATE PLACEMENT

Blueberries Medical Corp. has arranged a non-brokered private placement consisting of the sale of 180,716,000 common shares at a price of 1.1 cents per common share for aggregate gross proceeds of approximately $1,987,876 (or approximately $1.25-million (U.S.)). The net proceeds from the sale of the common shares are expected to be used to repay existing debt, and for general corporate and working capital purposes. The offering is expected to close on or about Dec. 29, 2023.

It is expected that the Offering will be led by Terraflos Inc. ("Terraflos"), a company with operations throughout Latin America founded and controlled by Facundo Garreton, who serves as the Chairman, CEO, and a director of Blueberries. Terraflos is currently exploring various prospects in Argentina, Mexico, and Brazil and aims to expand its operations into those markets in the short term. The company's objective is to satisfy food and medicine needs in the near future using non-conventional methods, without exploiting natural resources as is common in current methodologies.

These funds will be allocated to the full repayment of the last remaining convertible debt, bringing the company to a debt-free position. Additionally, strategic resources will be directed towards Pharmaceutical API Business Growth, Brazil Market Penetration, and Innovative Finished Products Development in partnership with Nutripharma.

Participation by Terraflos and Facundo Garreton in the Offering will be considered a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company will be exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with Terraflos' and Mr. Garreton's participation in the Offering in reliance of sections 5.5(b) and 5.7(1)(b) of MI 61-101. A material change report will be filed in connection with the participation of Terraflos and Mr. Garreton in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.

First Cannabidiol sale for pharmaceutical purposes

Blueberries entered the Argentine Pharmaceutical Market in October 2023. This strategic expansion aligns with the company's vision to enhance the quality of life and diversify its revenue streams.

The Blueberries incursion into this sector lays the foundation for robust financial performance, given that the pharmaceutical industry exhibits lower susceptibility to the dynamic regulatory landscape faced in other segments of the cannabis industry. This venture signifies a milestone not only operationally but also commercially, as it constitutes the largest individual order to date. Blueberries' entry into the pharmaceutical active ingredients market is anticipated to contribute significantly, with an expected increase of up to 32% in revenues for the year 2024.

Laboratorios Nutripharma and Blueberries are advancing into constructing commercial and operative synergies

After Terraflos investment in Nutripharma, this strategic partnership between both companies, Nutripharma and Blueberries, is progressing rapidly, with key milestones achieved since the integration process began. Synergies between the two entities are being identified and leveraged, leading to enhanced efficiency and collaborative research efforts. The unified approach has already resulted in streamlined operations, paving the way for accelerated innovation and increased competitiveness in the pharmaceutical landscape. The consolidation of resources and expertise from both laboratories is poised to yield positive outcomes, ensuring a strong foundation for continued growth and success. As a result of this partnership both companies will launch their very first product together during Q2-2024.

About Blueberries Medical Corp.

Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogota Savannah of central Colombia. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries' combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.

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